3 replies to this topic

[ogm]

With CSCO and internuts booming we should clear this at some point soon.

Below 1955... bearish failure. (there is a trendline connecting 2 last lows, that I didn't draw. Currently 1956 or so)

Edited by ogm, 08 August 2007 - 07:08 AM.

[rkd80]

for ES it looks 1494 is critical and clearing/closing above would imply that a bottom is in. However it could easily poke above it luring people in and then go make a higher low. I dont know if I agree with you about not touching shorts though, the higher low could be a very swift ordeal amounting to 30-40 es points.

[ogm]

for ES it looks 1494 is critical and clearing/closing above would imply that a bottom is in. However it could easily poke above it luring people in and then go make a higher low.

I dont know if I agree with you about not touching shorts though, the higher low could be a very swift ordeal amounting to 30-40 es points.

I simply think its too much risk here. With the market beeing deeply oversold, trying to turn, high levels of anxiety, and WWW. Whats the potential ? Another retest of the lows ? And then another bounce ?

Not worth it.

[rkd80]

I am actually flat right now and want to enter a swing position, trying to get away from more active trading. So I am cool with the idea of entering long for a while - but entering on the retest seems far more appealing. But you may be correct if it gets away from me and I am short, that would make me

for ES it looks 1494 is critical and clearing/closing above would imply that a bottom is in. However it could easily poke above it luring people in and then go make a higher low.

I dont know if I agree with you about not touching shorts though, the higher low could be a very swift ordeal amounting to 30-40 es points.

I simply think its too much risk here. With the market beeing deeply oversold, trying to turn, high levels of anxiety, and WWW. Whats the potential ? Another retest of the lows ? And then another bounce ?

Not worth it.